Sumitomo Mitsui Trust Group Inc. Purchases 2,152 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 134,117 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,152 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Teledyne Technologies worth $62,248,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Mather Group LLC. boosted its stake in Teledyne Technologies by 16.1% in the third quarter. Mather Group LLC. now owns 289 shares of the scientific and technical instruments company’s stock valued at $126,000 after acquiring an additional 40 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Teledyne Technologies by 432.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 108 shares during the period. Procyon Advisors LLC boosted its position in shares of Teledyne Technologies by 34.2% in the 3rd quarter. Procyon Advisors LLC now owns 974 shares of the scientific and technical instruments company’s stock worth $426,000 after purchasing an additional 248 shares during the last quarter. Creative Planning grew its stake in shares of Teledyne Technologies by 13.3% during the third quarter. Creative Planning now owns 4,184 shares of the scientific and technical instruments company’s stock worth $1,831,000 after purchasing an additional 492 shares during the period. Finally, Swedbank AB increased its holdings in Teledyne Technologies by 0.6% in the third quarter. Swedbank AB now owns 16,296 shares of the scientific and technical instruments company’s stock valued at $7,132,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.3 %

Teledyne Technologies stock opened at $511.53 on Monday. The company has a 50 day moving average of $480.48 and a 200-day moving average of $455.37. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The stock has a market capitalization of $23.84 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business earned $5.44 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TDY shares. TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. UBS Group started coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $538.00.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is owned by corporate insiders.

Teledyne Technologies Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.